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Bitcoin Holds $9,100 Support While Top 20 Coins Trade Sideways

The majority of the top 20 coins are trading sideways, while litecoin is seeing the biggest gains, following a crypto debit card announcement. Wednesday, June 19 — Crypto markets are trading sideways, with the majority of the top 20 coins by market cap seeing losses, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is up by 1.24% to $9,139 at press time, still seeing a slight recovery of price after the biggest cryptocurrency has dipped below the $9,000 threshold earlier on the day. Bitcoin is seeing major gains over the past 7 days at press time, up almost 13% this week. Yesterday, Fundstrat Global Advisors co-founder Tom Lee stated that bitcoin could easily hit new highs, adding that the cryptocurrency is becoming the reserve currency of the industry. Bitcoin 24-hour price chart. Source: Coin360 Ether (ETH), the second largest cryptocurrency by market cap, is trading at $267, up around 0.31% over the past 24 hours at press time. With that, the altcoi..

Grayscale: Bitcoin Gained 47% in US-China Trade War Drawdown

Traditional assets saw broad losses with few exceptions, with Chinese uncertainty potentially contributing to bitcoin’s price rise. Bitcoin (BTC) vastly outperformed traditional wealth preservation assets during the United States-China trade war, American digital asset manager Grayscale confirmed in research published on June 11. Updating “Hedging Global Liquidity Risk with Bitcoin” — a report originally from 2016 — Grayscale noted that bitcoin gained 47% in the period from May 5-31. The next best-performing asset, the Japanese yen, gained 2.1%. In addition, many assets saw a drawdown due to the trade dispute, which is ongoing; the Nasdaq Composite index shed 8.7%, making it the worst performer out of global equities. Grayscale also noted the depreciation in the Chinese yuan, a factor that others have already said spurred bitcoin’s bull market in May due to local investor uncertainty. “While the drawdown appears to be in its very early stages, Bitcoin is getting a jump before these ri..

Crypto Markets Trade Sideways, Major Stock Indexes Close With Minor Gains

Top cryptocurrencies have made minor gains on the day, and are mostly trading sideways. Thursday, June 13 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all still in the green, seeing minor gains since yesterday. The market as a whole is mostly trading sideways. Market visualization. Source: Coin360 Bitcoin broke $8,300 today, after trading below $8,000 for part of June 12. At press time, BTC is trading at $8,243 but is still trending up by 1.12% on the day. Bitcoin 24-hour price chart. Source: Coin360 The top altcoin and number two cryptocurrency, ether, is trading sideways, seeing 24-hour losses under 1% at press time. The coin is trading at $255.92. Ethereum 7-day price chart. Source: Coin360 The third cryptocurrency by market cap Ripple’s XRP has also seen a steady price on the day, seeing only about a 0.51% increase in price. It is currently trading at $.401. XRP 24-hour price chart. Source: Coin360 Among the top ten cryptocurrencies, both bitcoin cas..

Bitcoin Fails to Hold $8K as Cryptos Trade Sideways, Stocks Tumble...

Cryptocurrency markets are trading sideways, most of the top 20 coins by market cap are seeing slight losses over the past 24 hours. Tuesday, June 11 — crypto markets are trading sideways, with the top 20 coins by market cap predominantly seeing red at press time, according to data from CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) has failed to hold the $8,000 price point that it broke yesterday after seeing another dip below $7,900 before. At press time, bitcoin is trading at $7,878, down 0.82% over the past 24 hours, seeing a sufficient recovery from the intraday low of $7,778. The biggest cryptocurrency is up 1% over the past 7 days. Bitcoin 7-day price chart. Source: CoinMarketCap Ether (ETH), the second cryptocurrency by market cap, is down 0.85% over the day to trade at $242.97. Over the past 7 days, the altcoin is down around 0.38%. Ether 7-day price chart. Source: CoinMarketCap Ripple (XRP), the third top cryptocurrency by market cap is down 1.44%. The maj..

Bitcoin Recovers to Trade Above $8,000, Oil Market Reports Losses

The top 20 cryptocurrencies are showing mixed signals, with bitcoin back over the $8,000 price mark. Monday, June 10 — The top 20 cryptocurrencies on CoinMarketCap are showing mixed signals, with bitcoin (BTC) back over the $8,000 price mark after seeing a dip under $7,900 on June 8. Market visualization from Coin360 As of press time, bitcoin is up 2.18% on the day to trade at around $8,029. The leading cryptocurrency started the day as low as $7,680, subsequently reaching the current price point. On its weekly chart, the coin has lost slightly over 8%. Bitcoin price analyst Oliver Isaacs said last week that the coin could hit $25,000 around the end of 2019, noting that there are many different factors behind this price resurgence. Bitcoin 7-day price chart. Source: CoinMarketCap The second-largest crypto by market capitalization, ether (ETH), has registered moderate growth of 0.97% over the past 24 hours and is trading at around $244.6. The leading altcoin has seen minimal volatili..

Russia’s Third Largest Food Retail Firm Uses Blockchain-Based Open Trade Finance...

Russian popular food retailer firm Dixy announced that the firm is using the Ethereum blockchain in factoring service management. Russia’s third-largest food retail firm, Dixy, has implemented blockchain technology in its corporate finance system, according to a press release shared with Cointelegraph on June 5. The Moscow-based retailer has deployed blockchain in cooperation between suppliers and factoring firms, which represent third parties that purchase businesses’ invoices at a discount in order to help those businesses to raise funds. Specifically, following a successful pilot test, Dixy is now moving the interactions between suppliers and factoring companies to an Ethereum (ETH) blockchain-powered open trade finance platform called Factorin. The Factorin platform provides suppliers with a factoring management tool that can be operated via web interface or a mobile application, automating processes and enabling suppliers to receive funding within one day after a delivery is c..

Bitcoin Drops Below $8K, Stocks See Volatility Amid Global Trade Tensions

Virtually all of the top cryptocurrencies are today seeing deep red in a market-wide correction. Tuesday, June 4 — virtually all of the top cryptocurrencies are today seeing deep red in a market-wide correction, with bitcoin (BTC) dropping back below the $8,000 price point, as Coin360 data shows. Market visualization courtesy of Coin360 Having bullishly broken through the psychological price point of $9,000 at the end of May, bitcoin has gradually corrected downwards in subsequent days. To press time, the top coin is trading at $7,950 — roughly 6.7% down on the day and losing its hold on the $8,000 mark, according to CoinMarketCap data. Bitcoin’s sharp tumble started very early trading hours, with the coin swiftly dropping from roughly $8,500 at midnight to around $8,000 by 1:00AM (UTC+1). Since then, the cryptocurrency has brushed an intraday low of roughly $7,865 before slightly regaining ground before press time. On the week, the cryptocurrency’s losses have reached 8.78%. ..

Bitwise Calls Out to SEC: 95% of Bitcoin Trade Volume Is...

The size of the legitimate BTC trade volume is just as large as the bitcoin futures market, Bitwise tells the SEC. At the 1997 edition of the annual Worldwide Developers Conference — an event put together by iPhone-maker Apple Inc. to communicate directly with its community of developers and users — a participant asked founder and then-CEO Steve Jobs the following question: "What do we do about the press? Wall Street Journal reporters get up in the morning, sell Apple short and then go write stories about us. And, it’s clear that it’s perception versus reality. They don’t know s--- about operating systems. They don’t know anything about tools. They don’t know what’s going on in the future. They don’t know that we’re building icebergs, and building from the bottom up." The bitcoin (BTC) market is in a somewhat similar position. The mainstream media has published quite a handful of negative headlines. A considerable population of traditional finance folks, who can't wrap their head..

Report: Robinhood Using Crypto Trade Execution Services From Jump Trading

U.S.-based stock and crypto trading app Robinhood has reportedly been cooperating with Chicago trading firm Jump Trading LCC. United States-based stock and crypto trading app Robinhood has reportedly been cooperating with Chicago trading firm Jump Trading LCC to execute crypto trades on behalf of its clients. Bloomberg reported on the matter on May 29, citing anonymous sources. Jump Trading — a small trading firm founded 20 years ago by Chicago futures pits veterans Bill DiSomma and Paul Gurinas — has ostensibly benefited from being an early mover on cryptocurrencies, Bloomberg’s sources have claimed. The firm is known to have made its foray into bitcoin (BTC) trading from at least as early as November 2017, Bloomberg reports. Robinhood’s cooperation with Jump Trading has not been previously reported, as Bloomberg notes, and spokespeople from both firms officially declined to either confirm or comment on the matter at Bloomberg’s request. As Robinhood’s website outlines, the firm work..

Blackstone Majority-Owned Indian Tech Firm Partners With Bitfury on Trade Finance...

Indian tech firm Mphasis has partnered with blockchain tech giant Bitfury on a trade finance project. Indian tech firm Mphasis — majority-owned by the American multinational private equity firm Blackstone Group — has partnered with blockchain tech giant Bitfury on a trade finance project, Reuters reported on May 28. The report notes that Blackstone owns 52.3% of Mphasis, which is listed on the National Stock Exchange of India. According to Reuters, details of the Mphasis-Bitfury project are still evolving, but Mphasis’ senior vice president and global head of payments Andres Ricaurte has reportedly stated that: “Our goal is to accelerate the disruption and transformation in the trade finance space. The exact end-goal — whether it’s a platform, a trade token, or a consortia is still to be figured out.” The prospective digital token or platform would potentially aim to automate payments and other financial services in international trade transactions, according to an unnamed Mphasis exe..
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